Urbanization has changed the map of the earth in the last 100 years. By the year 1900, there were only 16 cities with more than 1 million population in the world. According to the Brookings Institution, now half of the Earth’s population lives in cities. Economy of 300 largest cities is equal to half of global production. The cities running the economy are also constantly evolving. The question is, which city can be the most important change in 2019?
Due to a statistical discrepancy, one or two cities reach the top in the table. The Brookings Institution’s Global Metro Monitor has placed Dublin at the top, but it is not due to local economic activities there. There are a lot of companies in Dublin, including many banks, but they are just there on paper.
Oxford Economics has said that Tripoli will progress fastest in 2019, but the report also states that given the Libyan security situation, it is a risky bet.So, what is the most important, most and lasting development in the city? Richard Holt, chief of Oxford Economics’s Global Cities Research, says that Bengaluru will grow fastest in India. Even after adjusting inflation, the hold has estimated 10.5% growth in Bangalore in 2019.
Bengaluru: More jobs, higher wages
Bangalore is India’s answer to Silicon Valley. The country’s big technology companies run from here. There are also offices of several multinational companies to take advantage of technology-savvy and low-cost workers. Bangalore has made good progress in the field of manufacturing in areas such as biotech and aerospace.
This city has been a major center for India’s development but it can touch the heights in the coming years. Holt says, “Overall, there are more jobs in Bengaluru and there is a higher salary, in 2019 the consumer expenditure can actually rise 10 percent or more.” The majority of the expenditure will be helpful in increasing the city’s economy. Holt says that due to the increase in costs in the future, this cycle of development may be in danger, but in the same situation, it may take several years or perhaps several decades.
Zhongshan: Will trade increase or decrease?
In December 2018, the United States and China agreed to abate business acrimony for 90 days. With this, open the doors of negotiations and pause on the period of tit-for-tat policies. The possibility of this conversation going forward positively will be very less.
The US has since taxed $ 250 billion in goods from China since July 2018. In China, US $ 110 billion has responded by placing duty on American goods. It may have an adverse effect on export-oriented manufacturing centers settled in the coastal areas of China, because their goods have become expensive for US consumers. Deborah Elms, Executive Director of Asian Trade Center, says Zhongshan is also involved in these centers.
Zhongshan: The trade dispute
Zhongshan is China’s largest technology and manufacturing hub, the city of Macau in the province of Guangdong. The effect of bitterness in business relations with the USA is going to be on the trade and investment of whole of Guangdong Province. The population here is more than 100 million. A recent survey of the US Chamber of Commerce has indicated that 70% of American companies doing business with Guwangong are delaying their investment decisions or wanting to get out of there.
London: uncertainty of breaksit
London is the largest city in Europe. There is more business than the fifth part of Britain’s economy. London is passing through a difficult year. Britain is trying to deal with the European Union to come out. In his new year’s speech, Prime Minister Theresa has said that if the Parliament accepted his proposal of Breitsit, Britain would make its place. But there are very few days left in the deadline of March 29. So far, it has not been decided that the Prime Minister will get the necessary support in the Parliament. The possibility of breaking or other referendum without agreement has not been completely dismissed.
Experts say there will be no help from uncertainty. The British currency pounds have been hit much and the property market of the city has also gone down a bit. Bank of England has anticipated a recession after the deal with the European Union. Due to breaksight, 75 thousand jobs can be made in the financial sector. These include 5 thousand jobs in London’s business center.
London’s Continental Comptitter Frankfurt thinks that he will lose 10 thousand jobs in the financial sector. Apart from this, the assets of 800 billion euros (918 billion dollars) will also be affected. Many multinational companies are considering moving their headquarters to another country. Breakesitt’s supporters reject this fear. They say that Braxit will take Britain to new heights. This year will know who was right and who is wrong.
Beijing: High flying
The International Air Transport Association estimates that by 2022 China will be the largest aviation market after leaving America. This year, Beijing is going to take a big step in this direction. Daxing International Airport will open around September 2019.
Once fully opened, this huge airport will allow 100 million passengers to travel in a year. Its effect will be bigger too. First Global’s Asia finance editor Alice Taylor says that Daxing International Airport will bring more competition in the domestic market. China Southern and China Eastern will be successful in reducing Air China’s dominance in Beijing.
If you are traveling in Asia or going from Asia to America then it is possible that your flight will stay in Beijing. The new airport is susceptible to the renewal of international flights because Beijing has become a very important center.
Jakarta can get the world’s fastest drowning city in 2019. Climat’s Change for Christian Aid Global Lead Dr. Catherine Kramer has prepared a report on the drowning cities. The capital of Indonesia is settled on the lowli, coastal and marshland land. Another problem is the use of local people’s ground water. Deteriorating water infrastructure means limiting the option. When water comes out, the ground above it gets submerged. In the last 10 years, the northern part of Jakarta has sunk 2.5 meters. Some areas are submerged 25 centimeters each year.
(image credit: National League of Cities)